By Maximilian Clarke
The rate of pay growth among the UK’s manufacturers has dipped from 2.5 to 2.4%, the manufacturing organisation, EEF reveal.
EEF, with JAM Recruitment, also observed an increase in pay freezes as manufacturers respond to Europe’s continued econoimic uncertainty.
“Whilst overall settlements are continuing to hover around normal levels, signs of pay freezes increasing could be a first sign of companies responding to the growing economic uncertainty we have seen in the last few months,” commented Ms Lee Hopley, EEF Chief Economist. “Attention will now turn towards the January bargaining round, where negotiations will again take place against a very cloudy outlook for the sector in the year ahead.”
John Morris, Chief Executive of JAM Recruitment, added: “The current data seems to reflect an uncertainty among manufacturers. Yet with many British companies competing on quality not cost, access to the most skilled and highly educated employees is one of the most important factors to staying fleet of foot. The schism caused by the demand for skills and, sometimes, the unrealistic pay expectations of employers who don’t realise the depth of the shortage, means that the companies that can adapt to the demands of the current market are the ones with the competitive edge.”
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